Market Moving News: USD/JPY - Aug 2

USD/JPY - 86.35.. Dlr briefly fell to a fresh 2010 8-month low of 86.25 due to active broad-based buying of yen on risk aversion as a sea of red is seen among regional bourses in AsiaPac spooked investors. Japanese authorities expectedly have stepped up their rhetorics n following comments fm a senior DPJ official, Deputy Finance Minister Motohisa Ikeda said 'he is worried about the impact of a rising yen on the country's exports.' Finance Minister Noda voiced his concern also n said 'he's watching the forex market closely.' It appears Japanese officials are merely voicing their concerns as the fact that the last time they intervened was in 2004 n recent low was 84.82, made in Nov 09'. So it is unlikely intervention wud be taken n monetary easing wud be the next likely course of action.